While it is impossible to know when or how extreme a recession can be, there are steps that wise business owners can take now in order to prepare their enterprise for leaner times ahead.

Alienation in leasing refers to the tenant's right to transfer their leasehold interest to another party. This can be done through assignment, where the tenant transfers the entire remaining lease period, or subletting, where the tenant leases the property to a subtenant for a portion of the remaining term.